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Banking you can believe in General Terms and Conditions Version 15 23 October 2018

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Need to talk to us? We’d be happy to help Call us on 03 9629 4484 Email us on info@mylifemyfinance.com.au Check us out at www.mylifemyfinance.com.au Level 1, 535 Bourke Street, Melbourne VIC 3000

Connect with us www.facebook.com/mylifemyfinance/ www.linkedin.com/company/mylife-myfinance/

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MyLife MyFinance prides itself on our professional and friendly staff that offer quality customer service with integrity and efficiency. We deliver on our guarantee to serve our customers through our adoption of the Customer Owned Banking Code of Practice. OUR 10 KEY PROMISES TO YOU 1. We will be fair and ethical in our dealings with you 2. We will focus on our customers 3. We will give you clear information about our products and services 4. We will be responsible lenders 5. We will deliver high customer service and standards 6. We will deal fairly with any complaints 7. We will recognise our customers rights 8. We will comply with our legal and industry obligations 9. We will recognise our impact on the wider community 10. We will support and promote this Code of Practice You can download a full copy of the Code at http://www.customerownedbanking.asn.au

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DEFINITIONS “Access Method” means the method(s) authorised by us for your use and accepted by us as authority to make a payment and to access your Account. “Account” means an individual savings, or term deposit account and non-cash payment facilities opened with MyLife MyFinance. It may or may not be accessible using Internet Banking. “Authorised User” means the authorised signatory(s) registered to use Internet Banking. “Biller” means an organisation who tells you that you can make bill payments to them through BPAY. “BPAY” means the electronic payment scheme called BPAY, operated in co-operation between Australian financial institutions which enables you to effect bill payments to Billers who participate in BPAY, by any Access Method as approved by us from. “BPAY Payment” means a payment transacted using BPAY. “Cut-off time” means the time, as we advise you from time to time, by which your payment instructions must be received by us for these instructions to be processed that day by MyLife MyFinance. “Internet Banking” or “Service” means the Internet Banking service offered by MyLife MyFinance to its customers. “Joint Accounts” means an account with more than one person having the authority to transact on or to access the account. “Password” means your personal code which provides access to Internet Banking and to each account you have nominated to be accessed by the Service. “Signatory” means you and any person you authorise or nominate as having the authority to initiate a transaction on the account(s) individually or jointly with another signatory. “User ID” means the unique number assigned to you by us to log into Internet Banking. It is your customer number plus another four digits. “We” or “MyLife MyFinance” means MyLife MyFinance Limited ABN 54 087 651 750 AFSL/Australian Credit Licence Number 245 606. Any other grammatical form of the word “we” has a corresponding meaning. “You” or “Customer” means the person or persons in whose name an account with MyLife MyFinance is opened. Where applicable, “Customer” refers to both primary and joint ownership over the account. Any other grammatical form of the word “you” has a corresponding meaning. “You” also mean means you, the authorised user, and any other person authorised by you to act on your behalf and to use Internet Banking services. Any other grammatical form of the word “you” has a corresponding meaning. 2


1. General Terms and Conditions IMPORTANT! Please read the following Terms and Conditions carefully and in their entirety, in conjunction with the Product Disclosure Statement (PDS), Supplementary Product Disclosure Statement (SPDS) (Account Interest Rates) and SPDS (Schedule of Fees of Charges). These documents have been prepared to assist you with understanding the significant features of the services offered by MyLife MyFinance, enabling you to make informed choices about the services before you acquire them. This document combines our previous documents SPDS (Internet Banking) and SPDS (BPAY). We recommend that you retain this document for future reference. Further copies of these Terms and Conditions are available via our website at www.mylifemyfinance.com.au or on request by contacting our office on 03 9629 4484 during our office hours of 8:30am – 4:30pm (AEST/AEDT) Monday to Friday (except for Victorian public holidays). These Terms and Conditions may change from time to time. Any changes will be notified to you via our website at www. mylifemyfinance.com.au. Up to date information is available on request. Information is also available on request in respect of: • General descriptive information about our products and services • Identification requirements • Dispute resolution scheme (internal and external) • Current interest rates • Standard fees and charges • Privacy These Terms and Conditions apply to the following financial products and non-cash payment products and services:

FINANCIAL PRODUCTS • Access Account • MySavings Account • Christmas Club Account • Monthly Income: Fixed Term Account • Term Deposit Account • Wholesale Term Deposit Account • Achiever Savings Account (Discontinued, please refer to Section 10) • Monthly Income: 30 Day Notice of Withdrawal Account (Discontinued, please refer to Section 10) • Rainy Day Account (Discontinued, please refer to Section 10) • Deeming Account (Discontinued, please refer to Section 10) 3


PAYMENT SERVICES • Access (Debit) Card • Direct Debit Facility • Direct Credit Facility • Customer (personal) Cheque Facility • External Funds Transfer (‘Pay Anyone’) • BPAY

INTERNET BANKING ABOUT THESE TERMS AND CONDITIONS These Terms and Conditions apply immediately after you open a new Account.

2. Account Terms and Conditions 2.1 OPENING AN ACCOUNT Once the account(s) are opened and facilities activated, we strongly recommend that you maintain strict security of your Access Card(s), Cheque book(s), and Term Deposit reinvestment advice(s). Should any of these be lost, stolen or used without your authority you must notify us as soon as possible. Failure to advise the loss, theft or unauthorised use may result in you being liable for any loss incurred. As a requirement of the Anti-Money Laundering and Counter Terrorism Financing Act 2006 (AML / CTF Act) we must verify your identity when you open an account or when you become a signatory to an account. You can use a combination of documents to prove your identity. Generally, two or three documents will suffice and these documents must collectively have your full name together with your address and/or date of birth. Photographic identification is a requirement. You must notify us of any change in your name, mailing or email address. It is an offence to provide false or fictitious identification information for the purpose of opening and operating an account. If you are a company, partnership, trust, club or other association you must provide us with a copy of your constitution or rules, partnership agreement, trust deed, Power of Attorney or other constituent documents. You must notify us if there are any changes to these documents, officers or person(s) authorised to operate the accounts. You will be responsible for any liability on or in respect to the account which arises from us acting on your instructions, including overdrawing an account beyond its authorised limit. You indemnify us against any liability which may arise from an act of unauthorised signatory which is within the terms of the authority given by you. If you hold a joint account with another person(s), then each of you is jointly and severally responsible to us for any liability (see section 2.3 Joint Accounts below). 4


2.2 AUTHORITY TO OPERATE ACCOUNTS Any customer having signed an application, whether individually or jointly with another person(s), may individually operate any account unless otherwise specified to us in writing. Therefore, any person(s) may perform the following functions to: • Operate on the account(s); • Deposit money in the account(s); • Negotiate cheques in the account name; • Draw and sign cheques on the account - if available (including instruction to stop payment on a cheque); • Instruct us as to the disbursement of interest on the account(s); • Authorise periodical payments on the account(s); • Withdraw any or all monies to the credit of the account(s); • Obtain statements of the account(s) and any information concerning the membership generally; and • Authorise direct debit and credit facilities on the account(s).

2.3 JOINT ACCOUNT Under a joint account this authority remains in effect until directions to the contrary are given to us by all surviving account holder(s) and supersedes any existing authority. The joint account will operate on an “either to sign” basis, meaning that any one joint holder can operate the account (e.g. sign cheques). Unless otherwise specified, under a joint account all notices, statements and other documents including changes to Terms and Conditions will be mailed to both persons. In the unfortunate event whereby an account holder dies, we will treat the account as owned by the surviving account holder(s).

3. Account Operation 3.1 ACCOUNT SIGNATORIES You will be required to provide us with details as to who is authorised to operate on the account(s). You will be responsible for all the transactions the authorised person carries out on your account(s). You may revoke the person’s authority at any time by giving us notice in writing.

3.2 DEPOSIT AND WITHDRAWALS Deposits to the account(s) can be made: • By electronic funds transfer from another financial institution; • By Direct Credit (e.g. salary payments from your employer); and • In person at any Commonwealth Bank branch using the MICR encoded deposit book. 5


Please note that cheque deposits take up to 3 business days to clear. Interstate and overseas cheques may take longer. Withdrawals from the account(s) may be made by: • Automatic Teller Machines (ATM’s) within Australia; • Point of Sale (EFTPOS) within Australia; • authorised Direct Debit; • authorised Periodical Payment; • authorised Electronic Funds Transfer (Pay Anyone); • BPAY; • Personal cheque (if chequing facility has been activated); and • MyLife MyFinance Corporate cheque.

3.3 OVERDRAWN ACCOUNTS You cannot overdraw your account(s) without prior agreement. Although we may honour a cheque, periodical payment, direct debit or withdrawal, or by any other means which may overdraw your account(s), at our discretion, any amount so overdrawn is repayable immediately.

3.4 CHANGE OF ACCOUNT DETAILS You must notify us promptly of any changes to your account(s) details including change of name and/or address.

3.5 FEES AND CHARGES We will debit your account(s) any government charges or taxes that relate to your account(s), and any service, transaction or other such fees and charges that we may levy from time to time. We may vary the nature or the amount of these charges by written notice or advertisement. Details of all standard fees and charges are set out in the SPDS (Schedule of Fees and Charges) brochure. A copy of this is available on our website.

3.6 VARIATION OF TERMS AND CONDITIONS, FEES, CHARGES AND INTEREST RATES We may at any time vary the Terms and Conditions, fees and charges and interest rates on any of your accounts by giving you written notice or by an advertisement in the media. Unless the variation reduces your obligations, we will notify you no later than the date the variation takes effect. Any other variation will be notified in accordance with the Customer Owned Banking Code of Practice (Code). You will be deemed to have received notice on the first day of publication of the advertisement or on the day after the mailing of the notice (whichever is earlier). 6


3.7 STATEMENTS Statements are issued at least twice a year (end of June and end of December). If you have a Personal Cheque Book you will also receive a statement in any month that a cheque has been presented on your account. If you have a Line of Credit facility you will receive a monthly statement. It is important to check your statement transactions carefully and if incorrect, notify us immediately or as soon as practicable.

3.8 PRIVACY AND CONFIDENTIALITY We have adopted and abide by the Australian Privacy Principles (APPs). The personal information we collect from you is to enable us to provide you with the products and services you have requested. If you do not provide us with current and complete details we may not be able to process your application or deliver the products and services you require effectively and efficiently. We hold only the kind of information that is necessary to enable us to perform our function and to comply with the law. We are prohibited from disclosing information about you to a third party unless the disclosure is to enable us to provide the products and services you have requested or if specifically required by law. With your consent we may disclose for marketing purposes relevant information concerning your account to a related entity of MyLife MyFinance which provides financial services related to or ancillary to your existing account(s).

3.9 CLOSURE OF ACCOUNT(S) We will, subject to the specific Terms and Conditions of the relevant account(s) and upon your signed request, close your accounts. The net credit balance (i.e. account balance less money owed to us and any applicable fees and charges) will be paid to you. Where applicable, all unused cheques and access cards must be returned for cancellation by us. All other facilities (e.g. direct credit, direct debit, periodical payments) must also be cancelled. We may close an account due to unsatisfactory conduct or for any other reason considered appropriate, including bankruptcy. Should this occur, you will be notified in writing at the address shown on our records and a corporate cheque will be forwarded to you for the net credit balance of your account(s), or the balance transferred to an alternative bank account nominated by you. 7


3.10 COMPLAINTS We have an internal dispute resolution scheme to deal with any complaints or disputes concerning our product and services, and related facilities. If you have a complaint, please contact the Internal Dispute Resolution Officer on (03) 9629 4484, who will assist you in the resolution of the dispute and advise you about the complaint handling process and the timeline for handling the complaint. If an issue has not been resolved to your satisfaction, you can lodge a complaint with the Australian Financial Complaints Authority, or AFCA. AFCA provides fair and independent financial services complaint resolution that is free to consumers. Website: www.afca.org.au Email: info@afca.org.au Telephone: 1800 931 678 (free call) In writing to: Australian Financial Complaints Authority, GPO Box 3, Melbourne VIC 3001 Details of our internal and external dispute resolution schemes are available on our website.

3.11 THE FINANCIAL CLAIMS SCHEME (FCS) The Financial Claims Scheme (FCS) is the Australian Government’s guarantee on deposits and is administered by the Australian Prudential Regulatory Authority (APRA). The FCS protects you by guaranteeing your deposits with us subject to a limit for each customer. Further information can be obtained from the APRA website at www.apra.com.au and the APRA hotline on 1300 55 88 49.

4. Financial products 4.1 SAVINGS ACCOUNTS TERMS & CONDITIONS 4.1.1 Access Account The Access Account is a financial product providing flexibility to cater for your everyday banking needs. It is an ‘at call’ account with all transactions (i.e. deposits and withdrawals to the account, and fees and banking charges) reported six monthly (or more frequently dependent upon the facilities used) to the authorised account holder. The Access account will be opened automatically when your MyLife MyFinance application is approved. There are no limits to the number of accounts you may wish to open. 4.1.1.1 Benefits You will enjoy the following: • There is no minimum balance; • Interest rate which is tiered and paid on that part of the balance within the tiered rate (interest calculated on the minimum monthly balance and credited annually); and • Statements issued twice a year (if you have a Line of Credit we’ll send you a statement monthly, and where you have a personal cheque book statements will be sent in any month where a cheque has been presented on your account). 8


The following facilities are attached to this product: • Access (debit) card for use at all Automatic Teller Machines (ATMs) within Australia, and all Point of Sale (EFTPOS) outlets within Australia; • Direct credit (e.g. salary, investment income, Centrelink entitlements); • Periodic payments (e.g. mortgage repayments, insurance payments); • Direct debit (e.g. gas, water, insurance payments); • Deposits can be made at the Commonwealth Bank using a MICR encoded deposit book (the deposit will not reach your Access Account until the following business day); • Cheque facilities; and • Counter cheques. In addition to the above, the following facilities are made available via our Internet Banking service: • Electronic Funds Transfers (‘Linked Account Transfers’) between your accounts held at MyLife MyFinance; • External Funds Transfers (‘Pay Anyone’) to an account at another financial institution or to another account holder at MyLife MyFinance; and • BPAY. 4.1.2 MySavings Account The MySavings Account is a financial product providing flexibility to cater for your everyday banking needs. It is an ‘at call’ account with all transactions (i.e. deposits and withdrawals to the account, and fees and banking charges) reported six monthly (or more frequently dependent upon the facilities used) to the authorised account holder. The following features are attached to this product: • Direct credit (e.g. salary, income from investments, dividends, Centrelink entitlements); and • Counter cheques. You can activate these facilities at any time by advising us in writing. 4.1.2.1 Benefits You will enjoy the following: • A higher rate of interest than our Access account, with interest calculated daily and paid monthly on the 1st of each month; • Funds are available ‘at call’ (subject to normal clearance practices); and • No minimum balance is required. 9


4.1.3 Christmas Club Account A Christmas Club Account is a financial product providing you with a means to save for anticipated holiday expenditure. You can contribute to your Christmas Club account at any time during the year. Money saved must be invested until the first day in December when it is paid out to you (either by funds transfer to the Access Account or paid to an account held by you with another financial institution). Alternatively, you may access the funds directly from this account during the month of December by contacting us in writing. Any funds remaining in the account on 1 January will be re-invested until the following December at the applicable interest rate. A minimum initial deposit of $10 is required to open the account and subsequent deposits of any amount may be added at any time. The Account is not allowed to be overdrawn. 4.1.3.1 Benefits You will enjoy the following: • The interest rate on the Christmas Club Account is fixed for the term and calculated on the minimum monthly balance. The following facilities are attached to this product: • Direct credit (e.g. salary, investment income, Centrelink entitlements); and • Deposits can be made at the Commonwealth Bank using a MICR encoded deposit book (the deposit will not reach your Access Account until the following business day). To arrange for a deposit book, or to enable direct credit transfers into your account, please contact our office.

4.2 INVESTMENT ACCOUNT TERMS AND CONDITIONS 4.2.1 Monthly Income: Fixed Term Account A Monthly Income Fixed Term Account is a financial product that enables you to invest for a fixed term of either one or two years. Investments ranging from as little as $5,000 are accepted. Depending on the term and rate, other minimum investment amount requirements may apply. It is a statement based account providing access to your funds upon maturity. 4.2.1.1 Benefits You will enjoy the following: • Investment terms of one or two years; • The interest rate is fixed for the investment term with interest calculated daily and paid either monthly to another account or compounded; and • A cooling-off period of seven calendar days from the date of maturity applies. Should you change your mind in relation to the reinvestment of your funds, you must provide us written instructions as to what you wish to do with your funds. 10


4.2.2 Term Deposit Account A Term Deposit Account is a financial product that enables you to invest for a fixed term ranging from 3 to 24 months at an interest rate fixed for that term. Investments ranging from as little as $5,000 are accepted. Depending on the term and rate, other minimum investment amount requirements may apply. It is a statement based account providing access to your funds upon maturity. 4.2.2.1 Benefits You will enjoy the following: • Investment terms ranging from 3 to 24 months; • The interest rate is fixed for the investment term with interest calculated daily and paid at maturity; and • A cooling-off period of seven calendar days from the date of maturity applies. Should you change your mind in relation to the re-investment of your funds, you must provide us written instructions as to what you wish to do with your funds. 4.2.3 Term Deposit Wholesale Account A Term Deposit Wholesale account is a financial product that enables you to invest for a fixed term ranging from 90 days to 364 days, at an interest rate fixed for that term. Investments from $500,000 are accepted, and depending on the term and rate, other minimum investment amount requirements may apply. It is a statement based account which provides access to your funds upon maturity. 4.2.3.1 Benefits You will enjoy the following: • Investment terms ranging from 90 to 364 days; • The interest rate is fixed for the investment term with interest calculated daily and paid at maturity; and • A cooling-off period of seven calendar days from the date of maturity applies. Should you change your mind in relation to the reinvestment of your funds, you must provide us written instructions as to what you wish to do with your funds. 11


4.3 PAYMENT PRODUCTS SPECIFIC TO ACCESS ACCOUNT Specific to the Access account, the following features are available (upon activation) once your application has been approved and the account opened. 4.3.1 Access (Debit) Card An Access Card allows you easy access to your funds from your Access account through any Automatic Teller Machine (ATM) within Australia or any Point of Sale (EFTPOS) outlet within Australia. 4.3.1.1 Benefits You will enjoy the convenience of having access to your funds: • Fee-free 24 hours a day and seven days a week via any Automatic Teller Machine (ATM) within Australia; and • Via any Point of Sale (EFTPOS) outlet within Australia. 4.3.1.2 Risks You will need to ensure that your Access Card and related Personal Identification Number (PIN) are securely maintained and stored separately. It is preferable to memorise your PIN and have no written record of the number. Your account could be fraudulently accessed if you lose them and your PIN is too readily identifiable. Therefore, when choosing your PIN, do not use birthdates, telephone numbers, etc. Do not disclose your PIN to anyone. Failure to safeguard your Access Card and PIN may leave you liable for any loss incurred. Lost or stolen cards can be reported to us during business hours on (03) 9629 4484. Outside business hours, you may call (Toll free) 1800 252 149. When using the Freecall number outside business hours, you will be given a reference number. Please retain this number as evidence of the date and time you made your report. 4.3.1.3 Costs Please refer to our SPDS (Schedule of Fees and Charges) brochure. 4.3.2 Direct Debits The Direct Debit facility allows you to authorise a third-party organisation to instruct us to debit funds from your Access account for the payment of goods and services (e.g. electricity, water, telephone, etc.). A direct debit authority may be set up on a recurring basis (such as weekly or monthly). 12


4.3.2.1 Benefits As the payment is initiated by the biller, you have the convenience of ensuring that bills are always paid on time (thereby avoiding late payment fees and accessing any pay-on-time benefits). The use of this facility allows for better budgeting, eliminating the need to hold excess cash in your account. 4.3.2.2 Risks You must ensure that there are sufficient available funds to satisfy the Direct Debit when it falls due. If there are insufficient funds in your account, a direct debit dishonour fee may be applied. Further, we reserve the right to pay or dishonour a direct debit payment. Where we choose to process the payment and your account subsequently becomes overdrawn, we may charge an overdrawn account fee. Any overdrawn amount is repayable immediately. Please refer to our SPDS (Schedule of Fees and Charges). Any refund of a direct debit processed to your account will need to be organised with the organisation who initiated the payment (unless an error was made by us). 4.3.2.3 Costs Dishonour and overdrawn account fees may apply should you have insufficient available funds in your account. Please refer to our SPDS (Schedule of Fees and Charges) brochure. 4.3.3 Direct Credits A Direct Credit facility allows you to arrange to have employer and other third-party organisations make payments directly to your Access account (e.g. salary, pensions, or share dividends). Subject to the Terms and Conditions of the account, funds are generally made available immediately after they are credited to your account. 4.3.3.1 Benefits The payment is automatic and conveniently made to your account. Subject to the Terms and Conditions of the account, you may choose to allocate the payment to one or more of your accounts held with us. 4.3.3.2 Risks Should you wish to cancel direct credit payments made to your account, you are required to contact your employer or the respective third-party organisation for this purpose. Where an organisation reverses the entry, we reserve the right to debit your account. 13


4.3.3.3 Costs Dishonour fees may apply should you a payment be received where the incorrect account number has been used and where we are required to manually process the payment to your account. Please refer to our SPDS (Schedule of Fees and Charges) brochure. 4.3.4 Periodical Payments The Periodic Payment facility allows you to authorise us to debit your Access account to make payments on your behalf. Payments can be to a third-party (e.g. to pay gas bill instalments etc.) or between your accounts held with us (e.g. from your Access account to your home loan). The payment must be for a fixed amount and at fixed intervals (i.e. weekly, fortnightly, monthly or quarterly) and is remitted electronically. 4.3.4.1 Benefits You may avoid late payment fees with your service provider as the payment can be made on or before it is due. The use of this facility eliminates the need for holding excess cash in your Access account, therefore allowing for better budgeting. 4.3.4.2 Risks You must ensure that there are sufficient available funds to satisfy the payment when it falls due. A “grace period� of 7 days from the due date applies. After that period, if there are still insufficient funds, the payment will be declined. Failure to hold sufficient funds in your account to satisfy your payment will result in a breach to our Terms and Conditions of the use of the facility and could result in the dishonouring of your payment and/or lead to your account being overdrawn. We reserve the right to determine whether to pay or dishonour a payment if there are insufficient clear funds in the account. We also reserve the right to choose in which order payments will be paid. Any overdrawn amount without prior approval is payable immediately. 4.3.4.3 Costs Dishonour fees may apply if a payment is dishonoured. An overdrawn account fee may apply if a payment is paid which results in an overdrawn account or further overdrawing an already overdrawn account. Please refer to our SPDS (Schedule of Fees and Charges) brochure. 14


4.4.1 External Funds Transfer (‘Pay Anyone’) An external funds transfer (also known as ‘Pay Anyone’) is the electronic transfer of funds from your MyLife MyFinance account to an account at another financial institution and/or another account holder at MyLife MyFinance. You can initiate Pay Anyone transfers either via the Internet Banking service or by written instruction using the appropriate form (available by contacting our office). If you are intending to initiate Pay Anyone transfers via the Internet Banking service, refer Section 8 of this document for further information. The transfer can be made as a ‘one-off’ payment or periodically (periodic payment). You can elect a date in the future for the payment to be affected. To initiate a payment, you must supply us with a BSB, account number, payee’s name and reference to process the transfer. You should be aware that cut-off times exist. Payments submitted before the cut-off times will be processed on the same business day. Payments made after the cut-off times on a business day, on weekends or on a public holiday will be processed on the next business day. The cut-off time for an external funds transfer is 3.30 pm (AEST/AEDT). Provided you meet the cut-off time, the payment will generally be received by the payee within two business days. There is a daily limit on the amount of Pay Anyone payments you make on any one day via our Internet Banking service. The default per day amount per Internet Banking user is $5,000. This can be varied to $0, $10,000 or $20,000 by completing the ‘Pay Anyone Daily Transfer Limit’ form (available online or by contacting our office). The onus is on you to provide us with the correct BSB and account number for remittance to another financial institution and/or another account holder at MyLife MyFinance. Although, the payee’s name and reference are required, only the BSB and account number provided by you are used in determining the destination of funds. 4.4.1.1 Benefits A Pay Anyone transfer allows you to authorise us to send funds electronically to an account at another financial institution. The payment generally reaches the destination bank account within two business days. The payment can be prearranged such as via periodic payment. There is a record of the funds being debited to your account. 4.4.1.2 External Funds Transfer (Pay Anyone) Mistaken Payment A mistaken payment can occur when a Pay Anyone transfer is paid into an unintended recipient’s account. This could be the result of you providing us with the incorrect BSB and/or account number. It is extremely important that you notify us immediately if you become aware of a mistaken payment so we can act on your behalf to try to recover the funds. 15


4.4.1.3 Risks You must ensure the BSB and account number provided to us are correct or the payment may be paid to an account that does not belong to the intended recipient. If payment is made to an incorrect account, it may not be possible to recover the funds from the unintended recipient. You run the risk of a financial loss in the event the funds cannot be recovered. 4.4.1.4 Costs Fees apply for ‘Branch Initiated External Funds Transfers’ and ‘External Funds Transfer’ dishonours. Refer to our SPDS (Schedule of Fees and Charges) brochure.

5. Other 5.1 PERIODICAL PAYMENTS, DIRECT DEBITS AND COUNTER CHEQUES • We endeavour to make such payments as requested by you but accept no responsibility to make same and accordingly shall not incur any liability through any refusal or omission to follow such instructions. • We may at our discretion process periodical payments, direct debits and counter cheques if there are insufficient clear funds are available within the nominated account. • We may, at our discretion, determine the order of priority of payments in which to draw on your account. • Alterations and cancellations of periodical payments and direct debits must be provided to us in writing to us. • A counter cheque will not be stopped unless it has been lost or stolen and we have been advised in writing.

5.2 DIRECT CREDITS • We may reverse a direct credit that we have received on behalf of your account if, for any reason whatsoever, we do not receive the value of the credit. • An account will automatically be opened by your initial deposit to that account.

5.3 DEPOSITS • Proceeds of any cheque or other item deposited into an account will not be available until the cheque or other item is cleared. • Cheques deposited via the Commonwealth Bank are subject to a clearance period. Cheques drawn on interstate and overseas institutions may have longer clearance periods. • In the case of a combined cash and cheque deposit via the Commonwealth Bank the total of the deposit will incur the standard clearance period. (This is a Commonwealth Bank condition.) • In case of a cheque deposit where the words and figures do not match, the lesser of the two values will be credited. 16


6. Customer Chequing 6.1 TERMS AND CONDITIONS OF CUSTOMER CHEQUING You may choose to activate the cheque account facility attached to your Access account. Subject to your application being approved by us, we will issue you with personalised cheques, enabling you to write cheques to pay bills or to purchase goods and services. These are termed ‘customer cheques’. If you have a cheque facility with us you acknowledge that you have appointed us as your agent and that you have authorised us to: • Conduct accounts (‘the bank account’) to enable you to draw cheques for payments and goods and services out of the funds in your account held with us in accordance with these Terms and Conditions. • Transfer funds to the bank account from your account held with us to meet the value of cheques or payment orders (‘a cheque’) that you or your authorised signatory have signed and to meet the value of all costs, government taxes or charges made by us. • If the amount of the cheque presented for payment exceeds the available balance of cleared funds in your account, we may – at our discretion – dishonour the cheque. You will be advised in writing if this occurs. A dishonour fee may be charged to your account. • We must be advised in writing if you wish to stop a cheque. • If for any reason we pay an authorised and presented cheque that exceeds your balance or available funds, then you shall incur a debt to us for the amount by which the cheque exceeds the available balance. In such circumstances the debt shall be repayable immediately upon written demand by us. We may charge the credit balance of any monies deposited by you in relation to any debt owed by you to us. • If you fail to repay such debt then you shall be required to pay all costs and expenses whatsoever incurred by us in collection of that debt. • By accepting and using your personal cheque book issued by us, you agree to pay any charges that we may levy from time to time and advised to you by written notice or advertisement. This facility may be withdrawn by us at any time if it is not conducted in an appropriate manner and in accordance with these Terms and Conditions. 6.1.1 Benefits This facility gives you convenient access to your funds. You retain control by determining when to write a cheque, who to pay and for how much. All cheques provided by us are crossed with the notation “not negotiable”, meaning they must be paid to the designated payee. 17


6.1.2 Risks To reduce the risk of unauthorised use of your cheques, please ensure that all cheques are kept in a safe place to safeguard against loss, theft or fraud. If you become aware that your cheque or chequebook has been lost, stolen or used without your authority, you must contact us immediately. You may be liable for any loss arising from the failure to report the loss, theft or misuse of your chequebook. Please note that care must be exercised when writing a cheque. Ensure that you complete all areas of the cheque in a neat and legible manner and that the cheque is signed. We reserve the right to determine whether to pay or dishonour a cheque if there are insufficient clear funds in the account. We also reserve the right to choose in which order cheques will be paid. Any overdrawn amount without prior approval is payable immediately. This facility may be withdrawn at any time. 6.1.3 Costs Please note that a dishonour fee applies if a cheque is dishonoured. An overdrawn account fee may apply if a cheque is paid and the payment results in an overdrawn account or further overdrawing an already overdrawn account. Fees apply for stopping a lost or stolen cheque.

7. BPAY 7.1 DESCRIPTION OF BPAY For the purposes of this document, ‘BPAY’ refers to an electronic payment system operated in co-operation between Australian Financial Institutions, which enables you to effect bill payment to Billers who participate in the BPAY scheme. We offer BPAY via Internet Banking (please refer to Section 8 of this document). 7.1.1 The features and benefits The BPAY service will enable you to pay a wide range of bills from your savings accounts, 24 hours a day, and 7 days a week at a time that suits you and at your convenience. For a bill to be paid, the biller must be part of the BPAY scheme and have the BPAY logo displayed on their bill. The only information you will need is the biller code, customer reference number and the amount due which can all be found on the bill.

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7.1.2 Risks All precautions have been taken in respect to BPAY transactions. However, the security of electronic transfer transactions cannot be guaranteed, particularly in an electronic medium such as the Internet. There are always the risks of interception of information by a rogue or hacker. There is also a risk for the solicitation of your passwords, access codes, banking and account details via bogus emails from fraudsters. We will never request your password and account details using emails under any circumstances. You MUST take special care to protect your Internet Banking User ID and password because anyone who has access to these can make transactions on your account. You may be liable for operations on the account where correct access codes have been used. It is strongly recommended that you do not disclose your access codes to any third party. 7.1.3 Costs We currently do not charge a fee for each BPAY transaction. However, we may introduce fees and charges and vary them from time to time by giving you not less than 30 days written notice. We may charge you and debit your account with any fees and charges that apply. Please note that where your payment fails or your transaction is rejected, you may be charged a dishonour fee. All dishonour fees and charges will be debited to your Access Account. Please refer to our SPDS (Schedule of Fees and Charges).

7.2 TERMS AND CONDITIONS These BPAY Terms and Conditions will govern your access to BPAY. It is therefore important that you read these Terms and Conditions carefully before you use BPAY. 7.2.1 Security breaches We will attempt to make sure that your BPAY Payments are processed promptly by participants in BPAY, and you must tell us promptly if: • you become aware of any delays or mistakes in processing your BPAY Payment; or • you did not authorise a BPAY Payment that has been made from your account; or • you think you have been fraudulently induced to make a BPAY Payment. If you think that the security of your Access Method has been compromised, please notify us immediately by calling (03) 9629 4484 during business hours, or writing to us via email at info@mylifemyfinance.com.au If you believe that an unauthorised BPAY Payment has been made and your User ID and /or password is known to a third party, you should immediately change your password and advise us.

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7.2.2 Using BPAY BPAY can be used to pay bills bearing the BPAY logo. When you tell us to make a BPAY Payment, you must tell us the biller code number and customer reference number (both found on your bill), the amount to be paid and the account from which the amount is to be paid. We will debit the value of each BPAY payment and any applicable fees and charges to the account that the relevant BPAY Payment is made. You are responsible for ensuring that there are sufficient cleared funds in the account to cover your BPAY Payment(s). If there are insufficient cleared funds or, as relevant, insufficient credit available, the BPAY payment(s) will not be made. 7.2.3 Processing of BPAY payments Except for future dated payments, a BPAY payment instruction cannot be revoked. We will treat your BPAY payment instruction as valid when you give it to us and you use the correct Access Method. You should notify us immediately if you think that you have made a mistake when making a BPAY Payment or if you did not authorise a BPAY Payment that has been made from your Account. A BPAY payment is generally treated as received by the biller to whom it is directed on the date you process the BPAY payment, if it is received by the cut-off time (which is 3.30 pm AEST/AEDT) on a business day, or otherwise, on the next business day after you have processed the BPAY payment. The BPAY payment may take longer to be credited to a biller if you tell us to make it after the cut-off time or on a Saturday, Sunday or a public holiday or if another participant in BPAY does not process BPAY payment as soon as they receive its details. If we are advised that your BPAY payment cannot be processed by a biller, we will: (a) advise you of this, (b) credit your account with the amount of the BPAY payment and (c) take all reasonable steps to assist you in making the BPAY payment as quickly as possible. You must be careful to ensure that you tell us the correct amount you wish to pay. If you make a BPAY payment and subsequently discover that: • the amount paid was greater than the amount you were required to pay, you should contact the Biller to obtain a refund for the excess; or • the amount you paid was less than the amount you were required to pay, you can make another payment for the difference between the amount paid and the amount you were required to pay. Please check your account(s) statements and records very carefully. If you believe a transaction is wrong or unauthorised, you should contact us immediately on (03) 9629 4484. 20


7.2.4 Future dated payments Where this facility is allowed by the biller, you may arrange future dated BPAY payments. If you use this option you should be aware that: • You are responsible for maintaining, in the Account to be drawn on, sufficient cleared funds to cover all future-dated BPAY payments (and any other drawings) on the day(s) you have nominated for payment or, if the Account is a credit facility, that there is sufficient credit for that purpose. • If there are insufficient cleared funds or, as relevant, insufficient credit available, the BPAY payment will not be made and you may be charged a dishonour fee. You must contact us BEFORE the date of payment if you wish to cancel a future-dated payment. You cannot stop the BPAY Payment after that date. Please check your account(s) statements and records very carefully. If you believe a transaction is wrong or unauthorised, you should contact us immediately on (03) 9629 4484. 7.2.5 BPAY transaction limits At this stage, we do not impose a daily limit on the amount of BPAY payments you make on any one day. 7.2.6 Refusing BPAY payment directions You acknowledge and agree that: • We may refuse for any reason to give effect to any direction you give us in respect of a payment to be made via BPAY; and • We are not liable to you or any other person for any loss or damage that you or any third party may suffer as a result of the refusal. 7.2.7 Your liability for BPAY payments You are liable for all transactions carried out via BPAY by you or anybody carrying out a transaction with your consent, regardless of when the transaction is processed to your Account with us. If you make an error in instructing us to make a payment, with your co-operation we will endeavour to recover the payment from the recipient in accordance with the rules of the BPAY Scheme but we may not be able to do so. Notwithstanding any of the above provisions, your liability will not exceed your liability under the ePayments Code. 21


7.2.8 Resolving errors on account statements All BPAY payments and applicable fees will be recorded on the account statements of the Accounts to which the BPAY payments are debited. Please check all entries on your Account statement carefully. If you believe a BPAY payment entered on your Account Statement is wrong or was not authorised by you, please contact us immediately and give us the following details: • your name and Account number; • the date and amount of BPAY payment in question; • the date of the Account Statement in which the payment in question first appeared; and • a brief and clear explanation of why you believe the payment is unauthorised or an error. If we are unable to settle your concern immediately and to your satisfaction, we will advise you in writing of the procedures for further investigation and resolution of the complaint and may request further details from you. 7.2.9 Cancellation of BPAY request You may cancel your access to BPAY at any time by giving us written notice. We may immediately cancel or suspend your access to BPAY at any time for security reasons or if you breach these Terms and Conditions or abuse the use of the facility. We may cancel your access to BPAY for any reason by giving you 30 days notice. The notice does not have to specify any reasons for the cancellation. If, despite the cancellation of your BPAY access, you carry out a BPAY payment using the Access Method, you will be liable for that BPAY payment.

8. Internet Banking 8.1 DESCRIPTION The Internet Banking service enables you to facilitate certain transactions and to obtain your account information 24 hours a day, and 7 days a week. 8.1.1 The features and benefits The features you will enjoy when you register with us for the Internet Banking service include the ability to: • view your saving, investment and loan account balances; • view transaction history relating to your savings, investments and loans accounts; • initiate transfer of funds between your linked accounts and externally via Pay Anyone; and • initiate payment of bills via BPAY. These facilities are available to customers in individual names or on an “either to sign” basis. Where an account is operated on “both to sign” basis, we are unable to offer these payment services. 22


8.2 TERMS AND CONDITIONS SPECIFIC TO INTERNET BANKING These Terms and Conditions form part of the Terms and Conditions which apply to the account(s) you access via Internet Banking and do not replace or vary any other Terms and Conditions which apply to them. If the Terms and Conditions applying to any accounts accessed through Internet Banking are inconsistent with the Internet Banking Terms and Conditions, then the Internet Banking Terms and Conditions override those Terms and Conditions to the extent of the inconsistency. 8.2.1 Access to Internet Banking service When you register to use Internet Banking, you will be issued with a User ID, which consists of your MyLife MyFinance customer number plus a four-digit number. When your registration has been successfully processed, your access to Internet Banking will be enabled. We will send you a link to set your password to your registered email address held with us. For your security, when you first log on to Internet Banking, you will be requested to set a password. Please note that your password must be at least eight (8) characters long, contain ALPHA upper and lowercase letters (A-Z, a-z) and contain at least one NUMERIC (0 – 9) and one special character (e.g. $, %, or #). Your new password will be case sensitive. 8.2.2 Authorised users Once your registration has been enabled, you become an authorised user. If your account to which this service is attached is an “either to sign”, then each of you may apply for registration individually and a unique User ID will be issued. You must then select your own password to access Internet Banking. Please note, only account signatories can become authorised users. We may, at our discretion, allow any person over the age of 16 years authorised by you to be an authorised user. 8.2.3 Using a terminal When you use your User ID and password to log on to a terminal, you authorise us to act on the instructions entered via the terminal. 8.2.4 Transactions We may assign any date we consider appropriate to a debit or credit transaction you carry out. We may subsequently adjust debits and credits to accurately reflect the legal obligations of you and us. If we do this, we may make consequential changes (including interest charges). 23


8.2.5 Password security THE SECURITY OF YOUR PASSWORD IS VERY IMPORTANT You, as an authorised user, are responsible for the security of your password. You must keep your password secret and take all necessary steps to prevent any unauthorised use of your password. You must make every effort to see that any record of your password is not misused, lost or stolen. For security reasons, you may be required to change your password at any time. If you fail to observe the security requirements set out in these Terms and Conditions, you may incur increased liability for unauthorised use of your password. You must: • Not record your password on any item that is easily accessible by anyone or is liable to loss or theft; • Not permit any other person to use your password; • Not disclose your password and make it available to any other person (including a family member or friend); • Use care to prevent anyone else seeing your password when logging onto Internet Banking; • Exit immediately after you have finished using Internet Banking by clicking the “Sign out” button; • You must not leave your computer unattended when you are accessing the Service; • If you require a memory aid to recall your password, you may make such a record provided the record is reasonably disguised. However, we do not consider that the following examples provide a reasonable disguise, and accordingly, as part of these Terms and Conditions, you agree: • Not to record your password by reversing the number sequence; • Not to record your disguised password on any item that is liable to loss or theft; • Not to describe your password as a ‘password’ or something similar; • Not to select or disguise your password by using any of the following combinations (or part of them): • Dates of birth; • Personal phone numbers; • Family member’s names; • Social security numbers; • Licence numbers; • Not to store your password in any low security electronic device of any kind, such as (but not limited to): • Calculators; • Personal computers; • Tablets; • Mobile phones; or • Other electronic devices. 24


8.2.6 Signatories Where the account(s) is accessed by more than one signatory, a password will be set up for each signatory. This password is unique and personal to the signatory and allows the signatory to initiate transactions on the account(s) individually. Each signatory will be bound by these Terms and Conditions. You must advise us in writing, of any changes to and revocation of account signatory and the appropriate registration form must be completed before a new signatory is allowed access. 8.2.7 Loss of password and cancelling registration You must notify us immediately upon becoming aware of the security of your password or password of an authorised user being breached (including when any device on which it is recorded, is lost or stolen), or of any other misuse of the Service. If either of these things occur, you must notify us immediately by calling (03) 9629 4484. If your password is stolen, or you suspect that your password is known to someone else, or you suspect any unauthorised use of your password, you must immediately log onto Internet Banking and change your password. If you lose or forget your password, please call us on (03) 9629 4484. You can cancel your Internet Banking service by calling (03) 9629 4484. If your registration is cancelled, please note that any future dated payments that you authorised using Internet Banking will not be automatically cancelled. These can be cancelled by contacting us on (03) 9629 4484. 8.2.8 Liability You will be liable for losses arising from unauthorised transactions entered before you notify us that the security of the password has been breached or the Service has been misused. You will be deemed to have contributed to the losses a) by failing to choose and protect the password in accordance with these Terms and Conditions; or b) by unreasonably delaying notification to us of the security of your password being breached or the Service being misused. Subject to the Terms and Conditions governing the relevant account debited for the unauthorised transaction, your liability under this clause will be limited to the lesser of: • the daily transaction limit applicable to the Service for each day or part thereof during which the transaction occurred prior to notification to us; and • the balance of your account (including any pre-arranged credit limit) at the time of the unauthorised transaction. 25


Where it cannot be established that you are liable for losses under Clauses 5 & 6, your liability will be the lesser of: • $150; or • the balance of the relevant account(s) accessed through Internet Banking (including any pre-arranged credit limit); or • the actual loss at the time you notify us of the breach of security of the password or of the misuse of the service. • You will not be liable for any losses arising from unauthorised transactions where it is clear that you have not contributed to those losses. You will not be liable for losses which occur through Internet Banking: • Resulting from unauthorised transactions after you have notified us that the password security has been breached or the Service misused; • That are caused by fraudulent or negligent conduct of MyLife MyFinance employees or agents or the employees or agents of a company or person in the network on which Internet Banking is provided; • Resulting from unauthorised transactions involving a password which is forged, faulty, expired or cancelled; or • Occurs before you have received your User ID. You will also not be liable for any unauthorised transactions which occur through Internet Banking after you have given us notice in writing that you no longer wish to use Internet Banking and we have confirmed in writing that your access has been cancelled. 8.2.9 Use of Internet Banking We are entitled to assume that any transactions authorised with the combined use of your User ID and password (or passwords in the case of multiple signatories’ accounts), is authorised by you. We will endeavour to affect the transactions on your account that are received via Internet Banking, if there are sufficient cleared funds available in your account(s) and any transaction limits have not been exceeded. However, you are responsible for ensuring that the intended recipient receives any payments made using Internet Banking. We will not have any responsibility or liability for any refusal or omission to initiate or complete any transaction, or to do so by any particular time, or for any omission to follow any transaction instructions. At busy times, the Service may be unavailable and we have no liability in respect of that unavailability. We may set a monetary limit on the transactions that can be carried out using the Service and on the number of transactions able to be made in any period. Limit or restrictions may vary depending on the type of transaction or we may modify the limits or restrictions at any time. 26


You are liable for all transactions carried out by you or by anyone carrying out a transaction with your authority or express or implied consent, regardless of when the transaction is processed to your account(s). Internet Banking will be subject to continual upgrading and enhancement and accordingly, we may need to modify, enhance, cancel or withdraw the Service at anytime. We will endeavour to keep disruptions for maintenance purposes to a minimum. We will make all reasonable effort to ensure that the Service is available for 24 hours a day, 7 days a week. However, We are not liable: • For any breakdown in the Service for whatsoever reason or any inability to access the Service and • For any corruption of data and any breakdown, interruption or errors caused to your computer resulting from the use the Service. • You will not be liable for losses caused by our system or equipment failure in the completion of a transaction. This limitation on your liability does not apply to the operation or failure of any external system (including pirated versions) or equipment including any system or equipment used by you or on your behalf. For Mobile applications, you should take action actions to lock your mobile device, be solely responsible for your device’s anti-virus and security arrangements; or take other measures to stop unauthorised use 8.2.10 Accounts Please check your account(s) statements and records very carefully. If you believe a transaction is wrong or unauthorised, you should contact us immediately on (03) 9629 4484. 8.2.11 Changes to these Terms & Conditions We may change these Terms and Conditions of use from time to time. If we do, we will give you notice, as specified under the Customer Owned Banking Code Of Practice (COBCOP). 8.2.12 Fees and Charges There are currently no fees for using the Service. However, we may introduce fees and charges and vary them from time to time by giving you not less than 30 days written notice. We may charge you and debit your account with any fees and charges which apply. Certain transactions may be performed which may incur a fee and you are referred to the Schedule Fees and Charges brochure. Details of our current fees and charges are available at our office, www.mylifemyfinance.com.au or by contacting us on (03) 9629 4484. 27


9. Further information We reserve the right to withdraw any of the above products and/or their associated features from any customer who fails to operate the product or its associated features within the guidelines of the Product Disclosure Statement (PDS) and other respective General Terms and Conditions that relate to the product and its associated facilities. More information is available on these products and their associated features in the SPDS (Account Interest Rates) and the SPDS (Schedule of Fees and Charges) brochures. If you require a copy or further information on these documents please contact us or download them from our website at www.mylifemyfinance.com.au.

10.Discontinued Products The following products are no longer available as they have been discontinued effective 1 June 2017, with the exception of the Deeming Account which was discontinued effective 8 December 2017. Customers who already have one of these products as of the discontinued date outlined may retain their products if they wish but cannot open further ones. 10.1 Deeming Account A Deeming Account is a financial product that provides flexibility to cater for your day-to-day needs if you are over the age of 65 and in receipt of a Centrelink pension or benefit. Interest is calculated daily and credited six monthly. The interest rate is tiered and paid on that part of the balance within the tiered rate. This is a statement based account with the option of direct credit and counter cheque facilities. If you would like to activate these, please advise us in writing. 10.1.1 Benefits You will enjoy the following: • Deposits are available “at call” (subject to normal clearance practices); • Interest is tiered and paid on that part of the balance within the tiered rate; • Interest is calculated on the daily balance and credited every six months; and • No minimum balance required. 10.1.2 Costs There are no monthly access fees or transaction fees associated with this account. Other fees such as dishonour fees may apply. Please refer to our SPDS (Schedule of Fees and Charges).

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Issued by MyLife MyFinance Limited trading as MyLife MyFinance (ABN 54 087 651 750 AFSL/Australian Credit Licence Number 245606). MyLife MyFinance Limited (MLMF) is owned by CSF Pty Limited and is an authorised deposit taking institution regulated by the Australian Prudential Regulation Authority (APRA). The information contained herein is general information only. It has been prepared without taking into account your personal investment objectives, financial situation, or needs, it is not intended to be, and should not be, construed in any way as investment, legal or financial advice. Please consider your personal position, objectives, and requirements before taking any action. MF078 231018

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MyLife MyFinance General Terms and Conditions  
MyLife MyFinance General Terms and Conditions  
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